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Accounting Policies of Aeonian Investments Company Ltd. Company

Mar 31, 2013

Basis of Preparation of Financial Statements

The accounts are prepared under the historical cost convention in accordance with the Accounting Standards specified by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

Use of estimates

The Preparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP) in India requires management to make estimates and assumptions that effect the reported amount of assets and liabilites and the disclosure of contingent liabilities on the date of financial statments and the reported amount of revenue and expenses during the reporting period. Actual results could defer from those estimates. Any revision to accounting estimates is recognished prospectively in current and future period.

Method of Accounting

The company follows accrual basis of accounting.

Fixed Assets

Fixed Assets are capitalised at cost inclusive of related expenses. Depreciation on fixed assets is provided on written down value method in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates prescribed in Schedule XIV of the Companies Act, 1956

Investments

Long Term (Non Current) Investments are valued at cost of acquisition which includes brokerages, fees and related costs. Short Term (Current) investments are carried at Lower of cost and market value. Long term Investments are carried at cost and provision for diminution in value of long term investments is made only if, in the opinion of the management, such a decline if other than temporary in nature.


Mar 31, 2012

Basis of Preparation of Financial Statements

The accounts are prepared under the historical cost convention in accordance with the Accounting Standards specified by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

Use of estimates

The Preparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP) in India requires management to make estimates and assumptions that effect the reported amount of assets and liabilites and the disclosure of contingent liabilities on the date of financial statments and the reported amount of revenue and expenses during the reporting period. Actual results could defer from those estimates. Any revision to accounting estimates is recognished prospectively in current and future period.

Method of Accounting

The company follows accrual basis of accounting.

Fixed Assets

Fixed Assets are capitalised at cost inclusive of related expenses. Depreciation on fixed assets is provided on written down value method in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates prescribed in Schedule XIV of the Companies Act, 1956

Investments

Long Term (Non Current) Investments are valued at cost of acquisition which includes brokerages, fees and related costs. Short Term (Current) investments are carried at Lower of cost and market value. Long term Investments are carried at cost and provision for diminution in value of long term investments is made only if, in the opinion of the management, such a decline if other than temporary in nature.


Mar 31, 2011

Basis of Preparation of Financial Statements

The accounts are prepared under the historical cost convention in accordance with the Accounting Standards specified by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

Method of Accounting

The company follows accrual basis of accounting.

Fixed Assets

Fixed Assets are capitalised at cost inclusive of expenses. Depreciation on fixed assets are provided on written down value method in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates prescribed in Schedule XIV of the Act

Purchase of Stock - Shares

Stock of shares and securities as at the year-end is valued at Lower of cost or market value on First in First out basis.

Investments

Investments are valued at cost of acquisition which includes brokerages, fees and related costs. Short Term investments are carried at Lower of cost and market value. Long Term investments are carried at cost. Provision for diminution in value of long term investments is made only if, in the opinion of the management, such a decline if other than temporary in nature.


Mar 31, 2010

Basis of Preparation of Financial Statements

The accounts are prepared under the historical cost convention in accordance with the Accounting Standards specified by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

Method of Accounting

The company follows accrual basis of accounting.

Fixed Assets

Fixed Assets are capitalised at cost inclusive of expenses. Depreciation on fixed assets are provided on written down value method in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates prescribed in Schedule XIV of the

Purchase of Stock - Shares

Stock of shares and securities as at the year-end is valued at Lower of cost or market value on First in First out basis.

Investments

Investments are valued at cost of acquisition which includes brokerages, fees and related costs. Short Term investments are carried at Lower of cost and market value. Long Term investments are carried at cost. Provision for diminution in value of long term.

 
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